Viavi Solutions Inc. (NASDAQ:VIAV) Receives Average Rating of “Hold” from Analysts
Viavi Solutions Inc. (NASDAQ:VIAV) has earned an average recommendation of “Hold” from the nine ratings firms that are covering the stock. Seven research analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $7.13.
Several analysts recently issued reports on VIAV shares. William Blair reissued an “outperform” rating on shares of Viavi Solutions in a report on Friday, September 16th. Needham & Company LLC reissued a “hold” rating on shares of Viavi Solutions in a report on Monday, August 15th. B. Riley downgraded Viavi Solutions to a “neutral” rating and set a $6.75 price target on the stock. in a report on Saturday, July 2nd. Zacks Investment Research downgraded Viavi Solutions from a “buy” rating to a “hold” rating in a report on Saturday, September 3rd. Finally, Jefferies Group raised their price target on Viavi Solutions from $5.75 to $7.00 and gave the stock a “hold” rating in a report on Friday, August 12th.
In other news, SVP Dion Joannou sold 12,466 shares of Viavi Solutions stock in a transaction on Wednesday, August 24th. The stock was sold at an average price of $7.79, for a total transaction of $97,110.14. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Ralph Rondinone sold 10,573 shares of Viavi Solutions stock in a transaction on Wednesday, August 17th. The shares were sold at an average price of $7.59, for a total value of $80,249.07. Following the transaction, the senior vice president now owns 15,664 shares in the company, valued at $118,889.76. The disclosure for this sale can be found here. Insiders own 0.35% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC purchased a new position in shares of Viavi Solutions during the second quarter valued at about $103,000. Legal & General Group Plc boosted its position in shares of Viavi Solutions by 76.6% in the first quarter. Legal & General Group Plc now owns 15,565 shares of the company’s stock valued at $107,000 after buying an additional 6,749 shares during the period. Hsbc Holdings PLC boosted its position in shares of Viavi Solutions by 0.6% in the second quarter. Hsbc Holdings PLC now owns 17,438 shares of the company’s stock valued at $116,000 after buying an additional 98 shares during the period. Ameritas Investment Partners Inc. purchased a new position in shares of Viavi Solutions during the second quarter valued at about $121,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Viavi Solutions by 152.0% in the second quarter. Tower Research Capital LLC TRC now owns 19,559 shares of the company’s stock valued at $130,000 after buying an additional 11,799 shares during the period. Institutional investors own 87.32% of the company’s stock.
Shares of Viavi Solutions (NASDAQ:VIAV) traded up 1.10% during mid-day trading on Monday, hitting $7.33. The stock had a trading volume of 335,690 shares. Viavi Solutions has a 12-month low of $4.68 and a 12-month high of $7.94. The firm’s market cap is $1.70 billion. The company has a 50 day moving average price of $7.56 and a 200 day moving average price of $6.99.
Viavi Solutions (NASDAQ:VIAV) last announced its quarterly earnings results on Thursday, August 11th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $224.10 million for the quarter, compared to the consensus estimate of $220.39 million. Viavi Solutions had a positive return on equity of 6.67% and a negative net margin of 10.95%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $0.13 EPS. Equities analysts forecast that Viavi Solutions will post $0.35 earnings per share for the current fiscal year.
Viavi Solutions Company Profile
Viavi Solutions Inc, formerly JDS Uniphase Corporation, is a provider of network and service enablement solutions and optical products for telecommunications service providers, wireless operators, cable operators, network-equipment manufacturers (NEMs) and enterprises. The Company operates in three business segments: Network and Service Enablement (NSE), Communications and Commercial Optical Products (CCOP), and Optical Security and Performance Products (OSP).
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